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The recent Telok Blangah Beacon BTO saw a record high of 49.6 applicants (possibly the highest for 4-room flats in recent years) for each 4-room flat. More than 30 first-timer applicants and 475 second-timer applicants are vying for the limited supply of flats.
Applicants are drawn to the central location in a mature estate and the fact that this is possibly the only BTO project closest to the Greater Southern Waterfront based on current plans. Even paying $710,000 and a wait of more than 5 years is no deterrent to buyers who desire the location and the potential upside of the transformation in years to come.
The SBF exercise saw slightly higher application rate compared to Nov 2020. This is probably due to the delays in completion of BTO flats and the cash-over-valuation that buyers of resale flats have to fork out since the circuit breaker.
